Page 46 - bne IntelliNews monthly country report Russia February 2024
P. 46
5.2.4 Gross international reserves
Before the invasion, Russia held $634bn in international reserves, part of what is described as “Fortress Russia”. KSE estimates that around $292bn are currently immobilised due to international sanctions on CBR and NWF. This leaves Russia with access to $152bn in monetary gold and roughly $121bn in FX assets (largely yuan).
Russia has laundered $2.5 billion of African gold since February 2022 The Kremlin has laundered $2.5 billion of African gold since the start of the full-scale invasion of Ukraine, according to a report by an international group of researchers published on Dec. 12. technical issues due to the hack on telecommunications company Kyivstar, regional authorities reported on Dec. 12.
46 RUSSIA Country Report February 2024 www.intellinews.com
